SINGAPORE (May 25): Now that Singapore has made BSI Bank the second financial institution to get kicked out of the city in 32 years, New Delhi has a window to plug a money-laundering loophole in its tax agreement with the island nation.

Singapore's unexpected decision Tuesday to show the Swiss private bank the door, following investigations into a multibillion-dollar scandal involving a Malaysian state fund, has shown its resolve to ride up the reputation ladder when it comes to keeping dirty money out of the financial system. That commitment bolsters India's case for renegotiating its double-tax-avoidance agreement with the city-state.

Singapore funds invested in Indian equities as of April: US$236 million ($325 million)

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